Swedish wood products company Setra reports an operating profit of SEK 33 million ($3.8 million) for the 1Q 2017. Net sales totalled SEK 1,007 million ($115 million), as the company said in the press release received by Lesprom Network.
“The higher earnings compared with the 1Q 2016 are explained by the wood products market developing in a positive direction which has enabled us to increase both selling prices and sales and production volumes. We welcome this development in the wood products market and can see good demand from our customers. However, a lack of container capacity will affect deliveries in the coming months, especially to our customers in Asia,” says Hannele Arvonen, President and CEO of Setra.
Cash flow from operating activities for the 1Q amounted to SEK -28 million ($3.2 million). The Group’s financial position is strong. The Group’s financial net debt amounted to SEK 133 million ($15.3 million) at the end of the period which corresponds to a net debt/equity ratio of 10%.
Setra is one of Sweden’s largest wood products companies.
